<\/p>\n
New Zealand’s central bank has slashed its benchmark interest rate by 50 basis points after its monetary policy meeting, marking a second straight cut to its benchmark interest rate.<\/p>\n
The cut brings the Reserve Bank of New Zealand’s interest rate to 4.75% from 5.25%.<\/p>\n
In August, the RBNZ unexpectedly cut rates by 25 basis points. The central bank said at the time that the pace of further easing will depend on how confident it is about a low inflation environment.<\/p>\n
In statement, the central bank said that it “assesses that annual consumer price inflation is within its 1 to 3 percent inflation target range and converging on the 2 percent midpoint.”<\/p>\n
New Zealand’s annual inflation rate hit 7.3% in the June quarter 2022, its highest level in over three decades. While it has since cooled to 3.3% as of June quarter 2024, it remains over the RBNZ’s medium term target range of between 1% and 3%.<\/p>\n
The RBNZ also noted that economic activity in New Zealand is “subdued,” partly due to restrictive monetary policy.<\/p>\n
“Business investment and consumer spending have been weak, and employment conditions continue to soften. Low productivity growth is also constraining activity,” the RBNZ pointed out.<\/p>\n
As such, it was “appropriate” to cut rates, so as to achieve and maintain low and stable inflation and avoid instability in output, employment, and the New Zealand dollar.<\/p>\n
<\/p>","protected":false},"excerpt":{"rendered":"
New Zealand’s central bank has slashed its benchmark interest rate by 50 basis points after its monetary policy meeting, marking a second straight cut to its benchmark interest rate. The cut brings the Reserve Bank of New Zealand’s interest rate to 4.75% from 5.25%. In August, the RBNZ unexpectedly cut rates by 25 basis points. […]<\/p>\n","protected":false},"author":1,"featured_media":2673,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2672","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bez-rubriki"],"featured_image_src":{"landsacpe":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/10\/New-Zealand-1-800x445.jpg",800,445,true],"list":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/10\/New-Zealand-1-463x348.jpg",463,348,true],"medium":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/10\/New-Zealand-1-300x200.jpg",300,200,true],"full":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/10\/New-Zealand-1.jpg",800,534,false]},"_links":{"self":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/2672","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/comments?post=2672"}],"version-history":[{"count":1,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/2672\/revisions"}],"predecessor-version":[{"id":2674,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/2672\/revisions\/2674"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/media\/2673"}],"wp:attachment":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/media?parent=2672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/categories?post=2672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/tags?post=2672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}